Econ ch 21 – Flashcards

The unemployment rate measures

During the Great Depression of the 1930s, the unemployment rate reached more than _________ of the labor force

Reginald looked for work for six months but could not find a job to his liking. He now spends his time at the beach. For purposes of employment he is considered

U.S. unemployment rate moves up and down as the economy moves in and out of recessions. But over time, the unemployment rate seems to return to a range of ____________

If the unemployment rate is 8 percent, then this means

If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals

During the deep recessions of the early 1980s and of 2007-2009, unemployment reached roughly __________.

welder who quits his job and moves from Pittsburgh to Madison to try to get a better welding job is said to be

Frictional unemployment

If a nation's labor force receives a significant influx of young workers:

The type of unemployment that occurs because of a recession is called

definition of market equilibrium states that at the _______________, the quantity of labor demanded by employers will equal the quantity supplied

The rise in unemployment that occurs because of a recession is known as cyclical unemployment, because it is closely tied to the ______________

The most significant real economic cost of high unemployment is:

Women composed __________ of the paid workforce in 1900 and 50% of the paid workforce in 2010

Karen chooses to go to university fulltime rather than to work. Karen:

In November 2010 the labor force in Siouxtown, was 14,800. There were 14,483 persons employed. The local unemployment rate

The unemployment rate in a town in which 65,400 persons are employed and 11,000 are unemployed equals

_____________ argues that the productivity of workers will increase if they are paid more, and so employers will often find it worthwhile to pay their employees somewhat more than market conditions might dictate

Freelife, New Hampshire has a labor force of 78,567 persons and employment of 74,382. The unemployment rate for the city is

If the unemployment rate is 6 percent and the number of persons unemployed is 6 million, then the number of people employed is equal to

Gomer loses his job as a road construction worker and cannot find another position with equivalent pay and benefits. As a result, he is still checking the want ads and reporting to the unemployment office on a weekly basis. He is considered to be

Which of the following statements is incorrect

Through good economic years and bad, many European economies had unemployment rates hovering near _________ since the 1970s

Craigburg has a working age population of 20 million. Of those, 11 million are employed and 1 million are unemployed. The unemployment rate is ________ and the participation rate is __________.

Cyclical unemployment arises when:

Frictional unemployment occurs when

A forestry worker who is out of work because of the temporarily low demand for wood products associated with a recession is defined as:

The _________________ argument points out that if an employer reacts to poor business conditions by reducing pay for all workers, then the best workers, with the best employment alternatives at other firms, are the most likely to leave and the least-attractive workers, with fewer employment alternatives, are more likely to stay

The development of a nationwide computerized job bank listing of all job openings would be most likely to reduce

Each month the Census Bureau carries out the Current Population Survey (CPS) (which has been carried out every month since 1940). A total of __________ households are contacted every month

The unemployment rate may overestimate the true extent of unemployment if

Insofar as government public policy is concerned, the best way to battle unemployment would be __________________.

The labor force consists of

The unemployment rate may underestimate the true extent of unemployment if:

The unemployment rate may underestimate the true extent of unemployment if

A university student who is enrolled in school fulltime and not seeking employment is considered

Suppose that everyone who has looked for a job for more than six months gave up in despair and stopped looking. What would happen to the unemployment rate

The extent of _______________________ will depend on how easy it is for workers to learn about alternative jobs, which may reflect the ease of communications about job prospects in the economy.